Updated 2-Unit
91 North Street, Westbrook, ME 04092
For Sale
$625,000
Both residences are leased, and the property includes a garage-shop with an upper bonus room.
Property Size1,988 SF
Price / SF$314.39
Days on Market156
Property Features for 91 North Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
front porch
sunroom
in-unit laundry hook-ups
Building Details
Building Size
Year Built
Units
Listing Agency:
J T Leahy Real Estate
Listed By:
Jonathan Leahy
(207) 939-8366
Source:
Integrityhomesrealestategroup
Added: Jun 9
Changed: Nov 11
Last Checked: Nov 11 at 2:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J T Leahy Real Estate
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Investment Insights
Based on property information with market context.
Built in 1900, this RGA1-zoned duplex contains two 2-bedroom, 1-bathroom residences, both currently leased. The first-floor apartment has a new kitchen and bathroom, along with updated flooring, lighting, and appliances. Shared property features include a front porch, mudroom, sunroom, and in-unit laundry hookups. Heating is provided by an efficiency natural gas system, with a propane monitor also on site.
A large garage and shop area is complemented by a bonus room above.
A large garage and shop area is complemented by a bonus room above.
Key Highlights
- Two leased apartments, each with 2 bedrooms and 1 bathroom
- First‑floor unit updated with a new kitchen, bathroom, flooring, lighting, and appliances
- Large garage and shop space with an upper bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,131
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,620
$702.6K
Cap Rate 7%
$501,871
$501.9K
Cap Rate 9%
$390,344
$390.3K
Market Conditions
NOI Build-Up for 1,988 SF
Gross rent
$53.7K $27.00/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$50.2K $25.25/SF
− OpEx
−$15.1K −$7.57/SF
NOI
$35.1K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$702,620
Cap Rate 7%
$501,871
Cap Rate 9%
$390,344
Alternative Uses
Best Use
Multifamily LT 5
$501.9K
$439.1K – $585.5K
NOI $35,131 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$466.9K
$408.6K – $544.7K
NOI $32,684 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$546.4K
$478.1K – $637.5K
NOI $38,248 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
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Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, and the property includes a garage-shop with an upper bonus room.
Where is this duplex located?
The property is located at 91 North Street Westbrook, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two leased apartments, each with 2 bedrooms and 1 bathroom; First‑floor unit updated with a new kitchen, bathroom, flooring, lighting, and appliances; Large garage and shop space with an upper bonus room
